Horizon Technology Finance Co. (NASDAQ:HRZN – Get Free Report) saw a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 496,800 shares, a drop of 8.9% from the July 31st total of 545,100 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 321,200 shares, the days-to-cover ratio is currently 1.5 days.
Institutional Trading of Horizon Technology Finance
Several hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its position in shares of Horizon Technology Finance by 4.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 21,214 shares of the investment management company’s stock worth $246,000 after buying an additional 911 shares during the period. Great West Life Assurance Co. Can boosted its position in Horizon Technology Finance by 4.4% during the second quarter. Great West Life Assurance Co. Can now owns 24,724 shares of the investment management company’s stock valued at $300,000 after purchasing an additional 1,039 shares during the last quarter. Wells Fargo & Company MN boosted its position in Horizon Technology Finance by 3.5% during the second quarter. Wells Fargo & Company MN now owns 35,289 shares of the investment management company’s stock valued at $426,000 after purchasing an additional 1,182 shares during the last quarter. Nia Impact Advisors LLC boosted its position in Horizon Technology Finance by 8.5% during the first quarter. Nia Impact Advisors LLC now owns 16,249 shares of the investment management company’s stock valued at $183,000 after purchasing an additional 1,267 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Horizon Technology Finance by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 32,369 shares of the investment management company’s stock valued at $391,000 after purchasing an additional 1,414 shares during the last quarter. Institutional investors and hedge funds own 5.07% of the company’s stock.
Wall Street Analysts Forecast Growth
HRZN has been the topic of several research analyst reports. Oppenheimer reiterated a “market perform” rating and set a $12.00 price target on shares of Horizon Technology Finance in a research report on Thursday, August 3rd. TheStreet cut Horizon Technology Finance from a “b-” rating to a “c” rating in a research report on Wednesday, August 16th. StockNews.com assumed coverage on Horizon Technology Finance in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Finally, Compass Point lowered Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a research note on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.29.
View Our Latest Analysis on HRZN
Horizon Technology Finance Price Performance
Shares of HRZN traded up $0.12 during trading hours on Friday, hitting $12.00. 201,495 shares of the company were exchanged, compared to its average volume of 266,130. The company has a market capitalization of $385.25 million, a PE ratio of 20.69 and a beta of 1.15. The firm has a fifty day simple moving average of $12.41 and a 200-day simple moving average of $12.09. Horizon Technology Finance has a one year low of $9.67 and a one year high of $13.45.
Horizon Technology Finance (NASDAQ:HRZN – Get Free Report) last issued its earnings results on Tuesday, August 1st. The investment management company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.43 by $0.11. The business had revenue of $28.12 million during the quarter, compared to analysts’ expectations of $26.23 million. Horizon Technology Finance had a return on equity of 15.64% and a net margin of 15.09%. Sell-side analysts expect that Horizon Technology Finance will post 1.85 EPS for the current year.
Horizon Technology Finance Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Tuesday, September 19th will be given a $0.11 dividend. The ex-dividend date is Monday, September 18th. This represents a $1.32 annualized dividend and a dividend yield of 11.00%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently 227.59%.
About Horizon Technology Finance
(Get Free Report)
Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.
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